$15,000 invested at 3% for 1 years
Future value
$15,450
Interest earned
$450
Total growth
3%
Investing $15,000 at 3% compounded annually for 1 years grows to $15,450. That's $450 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 3%)^1
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